Musk: SpaceX Has Closed $40 Billion in Debt Financing to Buy Nvidia GPUs, Arriving in the First and Second Quarters of 2027
SpaceX founder Elon Musk said on the social platform X on October 25 that SpaceX has closed $40 billion in debt financing to buy Nvidia graphics processing units (GPUs), which will arrive in the first and second quarters of 2027, according to Reuters. Musk said the financing is primarily callable debt and added that it is "not a major factor this quarter."
Musk attributed the successful raise to SpaceX's investment-grade status and to revenue from its Starlink satellite internet and launch businesses. He said debt markets have "almost entirely shut off access to money for any company that doesn't have substantial revenue independent of AI data centers," predicted that neocloud companies would face significant consolidation and failures, and said SpaceX will not buy any neoclouds.
On the financials, SpaceX's revenue for the third quarter ended September 30 climbed 161% from a year earlier to $14.58 billion, while capital expenditures nearly tripled to $19.6 billion. Chief Financial Officer Bret Johnsen said the company expects fourth-quarter capital expenditure of $35 billion to $40 billion.
On making its own chips, Terafab, the chip manufacturing joint venture between SpaceX and Tesla in Austin, Texas, is expected to produce its first test chips around May or June 2027, aiming for volume production by the third quarter of 2028. Reuters reported earlier this month that SpaceX was in talks with banks and asset managers on the roughly $40 billion package, structured as about $10 billion in bank loans and $30 billion of investment-grade debt, with Apollo expected to lead and PIMCO among the parties in discussions. Morgan Stanley estimates that SI infrastructure will require about $1.5 trillion of external financing by 2028.
Source: GSM·USA
Source: GSM · USA (original Chinese edition)
Photo: 图：SpaceX 猎鹰9号火箭自加州范登堡太空军基地发射星链卫星（资料图）。来源：美国太空军（U.S. Space Force），公共领域
